The Pound Australian Dollar (GBP/AUD) exchange rate is advancing. The pair trades +0.1% at 1.8260 after losing -0.8% over the past two session.
The Australian Dollar is on the back foot amid concerns over the impact that the lockdown in Victoria will have on economic growth in Australia. NAB downgraded Australia’s GDP forecasting a 3% hit owing to the second coronavirus wave.
Losses in the Australian Dollar are being limited by risk on trading in the wider market as US -Sino trade relations improve.
The Pound is edging higher as investors attempt to shrug off Brexit concerns. Attention will move to CBI retail sales data for fresh impetus.
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